Advertisements
Advertisements
प्रश्न
State whether the following statement is True or False.
Receipts and Payments Account do not have any opening balance.
पर्याय
True
False
MCQ
चूक किंवा बरोबर
Advertisements
उत्तर
False
Explanation: Receipts and Payments Account is a summary of transactions appearing in the Cash Book. It is prepared by not-for-profit organisations at the end of an accounting year. It is a real account, wherein receipts are recorded on the debit side and payments on the credit side. It usually has an opening balance i.e. cash balance and bank balance.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
